Toys R Us Store In Eatontown To Close

EATONTOWN, NJ - The Toys R Us store on Route 35 here is one of the 12 Toys R Us stores in New Jersey slated to close.

The Wayne-based retailer plans to close the stores as the company attempts to emerge from bankruptcy protection.

The Toys R Us locations are among the roughly 20 percent of the chain's locations to be shuttered. The closings for the stores will begin early next month and run through mid-April.

"The reinvention of our brands requires that we make tough decisions about our priorities and focus," Toys R Us chairman and CEO David Brandon said in a release. "The actions we are taking are necessary to give us the best chance to emerge from our bankruptcy proceedings as a more viable and competitive company."

Here are the locations in New Jersey, which also includes Babies R Us:

• Phillipsburg 1280 Rt. 22 & St. James Ave.
• Eatontown 137 Route 35
• Bridgewater 100 Promenade Blvd.
• Union 2700 Route 22 East.
• North Brunswick 909 US Hwy 1 South.
• Burlington Rt. 541 & Cadillac Road
• Cherry Hill 2135 Route 38
• Wayne 7 Wayne Hills Mall
• Paramus 545 Route 17 South
• East Hanover 98 Route 10 West.
• Elizabeth-KidsWo 900 Center Drive
• Mt. Olive 50 International Drive South.

In addition to the closures, Brandon said an undisclosed number of surviving locations will be co-branded as Toys R Us and Babies R Us stores.

Toys R Us filed for bankruptcy in September amid waning sales and mounting debt. The toy store chain has faced stiffening competition from Amazon, Walmart and Target.

A federal bankruptcy judge ruled late last year that Toys R Us may pay 17 executives about $14 million in incentive bonuses if it hits a certain earnings amount. Attorneys representing the company argued that the bonuses would help executives focus on increasing sales during the past holiday season.

The news is the latest sign of trouble for brick-and-mortar stores across the region. Chains that already have confirmed they will be shuttering locations in 2018 include Bon-Ton, Gap, Sears-Kmart, Tevana and Walgreens.

Last year was a disaster for brick-and-mortar retailers that announced plans to close more than 7,000 stores - a whopping 224 percent increase in announced store closures compared to 2016
Chains that already have confirmed they will be shuttering locations in 2018 include Bon-Ton, Gap, Sears-Kmart, Tevana and Walgreens.

With reporting by Kara Seymour and Eric Heyl, Patch Staff
Photo: Getty Images.